When I’m out and about, I will consume a Corona or two if I’m having a good time. Sooner than later, the beer’s manufacturer plans to help customers have an even better time sipping on cold ones.
Per Leafly
Constellation Brands, one of the United States’ largest alcohol distributors, has taken a 9.9% stake in the Canadian cannabis firm Canopy Growth, according to a report by Jennifer Maloney and David George-Cosh in the Wall Street Journal. Canopy and Constellation say they plan to develop cannabis-infused beverages for the legal adult market.
It’s a move that’s been long anticipated in the cannabis industry. For years, a number of brewers, vintners, distillers, and distributors have sniffed around the cannabis industry, considering legal marijuana both as an investment opportunity and a potential marketplace rival. But none had actually broken through and invested–until now.
Constellation Brands, based in Victor, NY, may be best known as the American distributor of Corona beer. The company’s portfolio of alcohol brands includes Svedka vodka, Charles Smith and Robert Mondavi wines, and Casa Noble tequila.
The company’s investment in Canopy Growth amounts to C$245 million (US$191 million). Canopy Growth is based in Smith Falls, Ontario, about 45 miles south of Ottawa. Formerly known as Tweed Inc., Canopy is one of Canada’s leading licensed producers of medical cannabis, and is the world’s largest publicly traded cannabis company, with a Toronto Stock Exchange market valuation of C$2.2 billion (US$171 billion).
There are already infused alcohol brands on the market. A brand like Constellation could really change that game.